PresidencyThe Presidency has said it will accept Senate decision to reject its request to borrow $29.9bn.

Senior Special Assistant to President Buhari on National Assembly Matters, Sen. Ita Enang, disclosed this in Abuja on Tuesday.

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“We are not disputing with the distinguished Senate. There are certain information and details which will enable them to consider the request in detail and appropriately.”

“So, we are collating that information. The Budget Office of the Federation, the Debt Management Office, the  Minister of Budget and National Planning, Minister of Finance and the economic team are collating the information. So that it can be submitted to the Senate to enable them take the appropriate decision.”

“We would be engaging the Senate. We will not be disputing with them but we will be engaging with them.”

“When we present a matter before the legislature it is for them to consider and as they have considered. More information is needed and that information they are entitled to it and we would provide.”

Senate Rejects Presidency’s Borrowing Request

The Senate on Tuesday rejected President Buhari’s request to borrow $29.9bn as part of its external borrowing plan for 2016 to 2018.

Senate leader, Ali Ndume said the request was rejected due to the absence of certain documents that should have accompanied the letter.